11th Apr 2014 08:10
LONDON (Alliance News) - Jupiter Fund Management PLC Friday reported GBP547.0 million in first-quarter net inflows, boosting its assets under management past the GBP32.0 billion mark.
In a statement, Jupiter said assets under management increased to GBP32.21 billion at the end of March, from GBP31.66 billion at the end of December.
Net inflows were boosted by GBP465.0 million of net inflows into mutual funds, with inflows from the UK and its international channels. Inflows were spread across fixed income funds, such as Strategic Bond and Dynamic Bond, and top-performing equity funds, such as UK Special Situations and UK Growth. This led to mutual funds assets under management increasing to GBP25.2 billion at the end of March.
Net inflows were also boosted after Jupiter won the F&C US Smaller Companies investment trust mandate during the quarter. Positive flows offset GBP86.0 million in net outflows from segregated mandates.
A total of GBP159.0 million flowed into Jupiter's investment trusts.
Jupiter recently sold its private client operations to Rathbone Investment Management Ltd, meaning that the asset manager will be looking to its mutual fund franchise as the continued main driver of its growth.
"We believe that our chosen savings markets offer the prospect of significant long-term growth. As we extend our relationships with key distributors on a global basis, we are confident we can continue to deliver profitable growth at attractive margins and, within our sustainable balance sheet structure, share the rewards of this growth with our investors," Jupiter said in a statement.
Jupiter shares were Friday quoted at 398.60 pence, down 1.6%.
By Samuel Agini; [email protected]; @samuelagini
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